Posted by: SMARTER BOLDER FASTER | March 15, 2009

Another Reason to Smile!

Real Estate is “Local” …what happens in Vegas…stays in Vegas, or Vancouver, Calgary or Toronto! 

While it is true that global issues can have a local impact, What is happening in Vancouver, Calgary and Toronto…is not happening here.  According to CMHC (Canada Mortgage & Housing Corporation) Halifax, had a net migration increase in 2008 (more people came than left) there were no net job losses in 2008.

The economy is primarily service based, not manufacturing based, oil prices are still very low, and interest rates are the lowest most people have ever seen.

And remember when the media talks about the market being “down” or prices “falling” it is usually looking at the big picture which includes the above mentioned cities, remember when the media reported a mini\mobile home selling for $310,000 in Fort McMurray, what goes up…

So if you look at our market, stable, steady increases in house prices, no big ups…which usually means no big downs.

And real estate really is local, one area of the city can experience different marketing trends than another.

Just this one man’s opinion…not reposted from anywhere other than the CMHC event (which I attended)

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